On the relation of labour productivity, costs and unemployment in the EU countries

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F17%3A43911795" target="_blank" >RIV/62156489:43110/17:43911795 - isvavai.cz</a>

Výsledek na webu

<a href="http://fim2.uhk.cz/mme/conferenceproceedings/mme2017_conference_proceedings.pdf" target="_blank" >http://fim2.uhk.cz/mme/conferenceproceedings/mme2017_conference_proceedings.pdf</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

On the relation of labour productivity, costs and unemployment in the EU countries

Popis výsledku v původním jazyce

This paper deals with the analysis of the relationship between unit labour costs, real labour productivity and unemployment rate in the EU countries. The main objective is to determine the existence and the direction of Granger causality between labour productivity and unit labour costs. In addition, we focus on the relationship between these two variables and unemployment. To find out the causality direction, the VAR models are estimated. Impulse response analysis is used to describe the time path of one of the variables in the VAR to shocks from the other explanatory variables. Based on responses groups of similar countries are created. Our results prove the Granger causality running from labour productivity to unit labour costs just in Sweden, Finland, Luxembourg and Austria. The causality running from unit labour costs to labour productivity is observed in most of the rest of the European countries. In the case of Romania, Hungary and Cyprus, the relationship in the sense of Granger causality is not significant.

Název v anglickém jazyce

On the relation of labour productivity, costs and unemployment in the EU countries

Popis výsledku anglicky

This paper deals with the analysis of the relationship between unit labour costs, real labour productivity and unemployment rate in the EU countries. The main objective is to determine the existence and the direction of Granger causality between labour productivity and unit labour costs. In addition, we focus on the relationship between these two variables and unemployment. To find out the causality direction, the VAR models are estimated. Impulse response analysis is used to describe the time path of one of the variables in the VAR to shocks from the other explanatory variables. Based on responses groups of similar countries are created. Our results prove the Granger causality running from labour productivity to unit labour costs just in Sweden, Finland, Luxembourg and Austria. The causality running from unit labour costs to labour productivity is observed in most of the rest of the European countries. In the case of Romania, Hungary and Cyprus, the relationship in the sense of Granger causality is not significant.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

10103 - Statistics and probability

Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2017

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Mathematical Methods in Economics 2017: Conference Proceedings

ISBN

978-80-7435-678-0

ISSN

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e-ISSN

neuvedeno

Počet stran výsledku

6

Strana od-do

632-637

Název nakladatele

Univerzita Hradec Králové

Místo vydání

Hradec Králové

Místo konání akce

Hradec Králové

Datum konání akce

13. 9. 2017

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

000427151400108